Texas § ED.55.1784 - TEXAS STATE UNIVERSITY SYSTEM

§ ED.55.1784. TEXAS STATE UNIVERSITY SYSTEM

TEXAS STATE UNIVERSITY SYSTEM; ADDITIONAL BONDS. (a) In addition to the other authority granted by this subchapter, the board of regents of the Texas State University System may acquire, purchase, construct, improve, renovate, enlarge, or equip property and facilities, including roads and related infrastructure, for projects to be financed through the issuance of bonds in accordance with this subchapter and in accordance with a systemwide revenue financing program adopted by the board for the following institutions, not to exceed the following aggregate principal amounts for the projects specified, as follows: (1) Lamar University, $60 million for construction of a science building; (2) Lamar State College--Orange, $10 million for construction of a multipurpose education building; (3) Lamar State College--Port Arthur, $8,080,000 for expansion of technology program facilities; (4) Lamar Institute of Technology, $12,500,000 for construction and renovation of technical arts buildings; (5) Texas State University: (A) $63 million for construction of an engineering and sciences building; and (B) $48,600,000 for construction of a health professions building in Round Rock, Texas; (6) Sam Houston State University, $48 million for construction of a biology laboratory building; and (7) Sul Ross State University, $6,240,000 for renovation and modernization of educational and related facilities and infrastructure. (b) The board may pledge irrevocably to the payment of bonds authorized by this section all or any part of the revenue funds of an institution, branch, or entity of the Texas State University System, including student tuition charges. The amount of a pledge made under this subsection may not be reduced or abrogated while the bonds for which the pledge is made, or bonds issued to refund those bonds, are outstanding. (c) If sufficient funds are not available to the board to meet its obligations under this section, the board may transfer funds among institutions, branches, and entities of the Texas State University System to ensure the most equitable and efficient allocation of available resources for each institution, branch, or entity to carry out its duties and purposes. Added by Acts 2015, 84th Leg., R.S., Ch. 917 (H.B. 100 ), Sec. 1, eff. September 1, 2015.